ProFunds Hires Exec to Target Intermediaries

ProFund Advisors LLC, the advisor to the ProFunds fund family, said today that it has hired a Deutsche Bank executive to market its products to financial intermediaries.

As the five-year-old index fund companys managing director for financial professionals, Matt Connors will be responsible for marketing products to broker/dealers and fee-based financial advisers. He will report to ProFunds Chairman and CEO Michael Sapir.

In addition to working with the existing sales teams of the firm's distribution arm, ProFunds Distributors, Connors will be responsible for building new sales and distribution arrangements.

Connors said that he thinks investors will continue to turn away from stock funds and will increase their positions in other vehicles, such as index funds.